For Sale
$4,160,000

2240 Nord AveChico, CA 95926

208-Unit Approved Apartment Site

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 11.77± acre parcel in Chico, CA, presents a prime opportunity for immediate multifamily development. Approved for 208 units, the property boasts an R-2 zoning designation, permitting a density of 17.8 dwelling units per acre. The site plan includes a mix of one, two, and three-bedroom units across three building types, catering to a diverse range of renters. Its strategic location within the Corridor Opportunity Site Overlay (COS) enhances its appeal. Situated just 1.4± miles from California State University, Chico, this location offers proximity to a large student population and a robust rental market. The land is surrounded on three sides by existing single-family residences, providing a desirable residential context. The property's APN is 042-140-174-000, and it's offered at $4,160,000. This is a turnkey opportunity for developers seeking a high-density, multifamily project in a thriving California market. The property is ready for immediate development, eliminating lengthy permitting processes. This represents a significant investment opportunity with strong potential for substantial returns. All necessary approvals are in place, making this a truly exceptional offering. The Butte County location and convenient proximity to CSU Chico ensure a consistent demand for rental units. Don't miss this chance to acquire a highly desirable, fully approved multifamily development site.

Property Details for 2240 Nord Ave

Property type
Land
Lot Size (sq. ft)
512,701 SF

Location Insight

City
Chico
County
Butte
State
California
Latitude
39.7403655
Longitude
-121.8775854
2240 Nord Ave, Chico, California

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2240 Nord Ave
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